✦ AI generated
The hosts note that Google's stock dropped by hundreds of billions of dollars following the departure of Jeff Dean and other key AI talent.
Rory: It must be extraordinary validating if you're Jeff Dean to leave as a non CEO of a two or three trillion dollar market cap public company and have the stock go down by a couple hundred billion dollars.
Canva disclosed a reduction in growth from 30% to 20% due to the prohibitive costs of subsidizing users with expensive AI features on frontier models.
Rory: Canva cuts 2026 growth by a third as AI serving costs blow up. ... the CEO Melly Perkins disclosed kind of midyear that they're probably going to be growing 20% by the end of this year. ... they're obviously adding a ton of AI features. Those features cost real money.
The speakers discuss the risk that AI models like ChatGPT will replace prosumer tools like Canva, as evidenced by their own churn from Canva and Notion.
Jason: I don't know, man. I found it kind of depressing the Canvas stuff because um Canvas seemed to me one that obviously AI was maming. ... I just no longer had any need for them in the agentic area. Just no need. ... But 30 to 20 in one year... I think it's a ter terrifying and it's a little I was hoping they were defying gravity but it doesn't look like it.
supports · 1
The discussion highlights that senior AI researchers are leaving Google to pursue scientific discovery because they are deprioritized in favor of commercial products like coding and chat.
Rory: I think what's happening is you know every dollar of every piece of compute that you give to um Google cloud turns into 30% operating margins... Every bit of compute that you give to drug discovery... turns into a longshot five or seven year moonshot... At some level there's a desire to focus full-time on that... What are you going to do with your late 50s in life?
gives example · 1
The speakers discuss the necessity of offering multi-million dollar packages to secure top-tier AI engineers, creating a three-tier compensation structure.
Jason: we're seeing three bands of compensation we're seeing the regular human beings then we're seeing the AI guys and then we're seeing the one the one to five superstars... I have to provide them everything the outsiz equity the outsiz cash.
The hosts discuss the news of Revolut's CEO proposing a $50B compensation package tied to valuation milestones, framing it as a move to secure control and incentivize growth.
Harry: Revolut announced an incentive package to the CEO... whereby it basically ratcheted it up with different um prices of the company... At 500 billion would have circa 39 to 40%.